The conditions lined ups for the 9:30am GBP/USD long trade this morning. Here is the setup:
Entry Price: 1.5627
Exit: at the open of the 6:30pm CST bar
S/L: 1.5587
TP: 1.5647
Good luck!
oh well…onwards and upwards.
The 9:30am GBP/USD long trade was stopped out this morning. Next trade: the 12:30am GBP/USD long trade.
As someone once said: ‘The trend is your friend until the bend at the end’.
At least the trend tends to pay out nice money before it turns on you lol!
ST
Haha! Truer words were never spoken 
You win some, you lose some. The trick is to outweigh your losses with wins 
The conditions lined up for the 12:30pm GBP/USD long trade. Here is the setup:
Entry Price: 1.5594
Exit at the open of the 3pm CST bar
S/L: 1.5564
TP: 1.5604
Happy trading!
Run the numbers. It seems that since 01 September with using this strategy we are down c.120-130pips. (including the SL today and assuming a midpoint for the 2 occasions that a TP or SL situation was not reached.)
The 7am trade is a good performer with 80% win rate (4/5 trades)
The 9.30am trade has a 50% win rate (10 trades in total) but tips it under 50% if yesterday 27/28 pip loss is taken into account where the stop loss was not reached.
The 12.30pm trade has 63.7% win rate (7/11 trades) but in terms of net pips we would be down here 50 pips due to the large stop losses of 30 compared to TPs of 10 pips.
3.30pm trade is at 60% (3/5 trades) but not including the 2 trades where SL or TP was not reached.
The 12:30pm GBP/USD long trade reached TP today. Here is how the trade played out:
Entry Price: 1.5594
Exit Price: 1.5604
Trade length: 1 bar
Profit: 10 pips ($100)
Next trade: the 3pm GBP/USD long trade.
The conditions did not line up for the 3pm GBP/USD long trade today. Next trade: the AU open EUR/USD short trade.
Good morning friends,
Hopefully you took advantage of some of the bullish gains to be made last night
Yesterday, the conditions did not line up for the AU open EUR/USD short trade and conditions did not line up for the 7am EUR/USD short trade this morning.
Next trade: the 9:30am GBP/USD long trade.
The conditions lined up for the 9:30am GBP/USD long trade. Here is the setup:
Entry Price: 1.5794
Exit: at the open of the 6:30pm CST bar
S/L: 1.5754
TP: 1.5814
Good luck!
Taking a 1-2 month excerpt from any system to determine profitability is [I]never[/I] a correct approach to trading.
For instance, the 9:30am GBP/USD long trade had 12 possible opportunities in the time span that you mention. In that period of time, there were 5 winners and 7 losers (41.6% win rate), which would put the losses at around $1500 (in standard lot size) for a 1 1/2 month time frame. However, looking at this system in the scope of the entire year, the net profit is approximately $755 with a winning percentage of 60.3%.
Historically, the largest drawdown for this system was approximately $3600; the current drawdown is around $1500. If we near the $3600 dollar amount and haven’t seen a significant change in direction, then we look back and reassess the system and whether the trend has completely changed or not.
This is why I have said time, after time that a system is proven over time. One of the reasons that the majority of traders fail at their attempts to reach profitability is that they do not stick with a system during times of drawdown and abandon their principles after a few weeks of losses.
I appreciate you taking time to do the research; this is certainly necessary. Hopefully the explanation helps a bit. Good luck!
Quite - one of the toughest aspects of trading is sticking with it through losses without making changes for the sake of it that actually damage the overall performance. My head says that I am consistently profitable over the trading year, yet give me a few losses and I can still feel my gut wanting to ‘tweak’. Mechanical execution, with emotions left at the door, is a vital component of long-term success, imho.
ST
I couldn’t have said it better myself, ST
The 9:30am GBP/USD long trade was stopped out this morning and the conditions did not line up for the 12:30pm GBP/USD long trade. Next trade: the 3pm GBP/USD long trade.
The conditions lined up for the 3pm GBP/USD long trade. Here is the setup:
Entry Price: 1.5755
Exit: at the open of the 7:30pm CST bar
S/L: 1.5725
TP: 1.5765
Happy trading!
The conditions did not line up for the AU open EUR/USD short trade, but we are still in the 3pm GBP/USD long trade until 7:30pm CST.
The 3pm GBP/USD long trade did not reach TP or S/L. That’s all for today folks. I will update the board in the morning. Have a great evening!
Good morning friends,
The conditions did not line up for the 7am EUR/USD short trade. Next trade: the 9:30am GBP/USD long trade.
The conditions lined up for the 9:30am GBP/USD long trade this morning. Here is the setup:
Entry Price: 1.5714
Exit: at the open of the 6:30pm CST bar
S/L: 1.5674
TP: 1.5734
Good luck!